Saudi Arabian gaming and e-sports company Hawk Gaming Group has signed a memorandum of understanding (MoU) with Tokyo-based GLOE Inc. As a result, the partnership will quickly foster a rapid expansion of the gaming and esports industries in both countries.
National Gaming and E-Sports Strategy
As part of Saudi Vision 2030 the Kingdom has strategically positioned itself across the entertainment sector and invested substantially. Importantly, The National Gaming and Esports Strategy (introduced in 2022) aims to establish the sector as a key economic driver. Research has suggested that Gamers are the driving force behind future economies and the partnership aims to unlock the full potential of Japan’s world-class content and talent. It is expected that the agreement will create new economic opportunities and strengthen existing industry connections.
Riyadh Preparing to Host First Olympic E-Sports Games
Notably, Saudi’s gaming industry generated SAR 27 billion (USD 7.2 billion) in revenue in 2023, with 23.5 million active gamers. Moreover, the country is also preparing to host its inaugural Olympic Esports Games in Riyadh in 2027. As a result the Kingdom is committed to this transformative movement and aims to provide cutting-edge solutions in esports infrastructure. Further areas for improvement include game development, AI applications, talent development and scouting. Accordingly, the sector is projected to contribute SAR 49.9 billion (USD 13.3 billion) to the nation’s gross domestic product (GDP) by 2030 and create 39,000 jobs.
Collaboration To Leverage Strengths of Both Nations
The recently signed MoU outlines a collaboration focused on leveraging the strengths of both nations, ranging from intellectual property and human resources to business opportunities. Japan has a wealth of exceptional game content, however localisation and cultural adaptation in the Middle East have been limited. Consequently, with unprecedented global interest in Saudi Arabia’s esports scene it is the perfect opportunity to introduce Japanese games to the region.
Soutien Can Assist Your Business to Enter The Saudi Market
Soutien Group is part of a network of consultants, partners and investors. Our clients are corporate, private and international with an interest in exploring new markets. We can offer expertise in Market Research and Assessment Saudi, Saudi Business Case, Saudi Business Model Development. Feasibility Study and Business Plan Saudi, Organizational and Operational Structuring Saudi, Saudi Sponsorship and Partnership, Company Formation Saudi among others.
Please click on the link to learn more about opportunities and possibilities in the Kingdom of Saudi Arabia as well as the initiatives of Soutien Group.
